The German Labor Office reported that the unemployment rate in Germany rose to 5.3% in June 2022, seasonally adjusted, as Ukrainian refugees registered with the Labor Office to find work in Germany. According to the report, the number of unemployed in Germany rose by 133,000 in June to 2.417 million, seasonally adjusted. In a Reuters …
The S&P Global Purchasing Managers’ Index (PMI) for the eurozone manufacturing and services sectors fell to 51.9 in June 2022 from 54.8 in May. Chris Williamson, the chief business economist at S&P Global Markets Intelligence, wrote, “The seasonally adjusted S&P Global Eurozone PMI® Composite Output Index fell from 54.8 in May to 51.9 in June, …
S&P Global: Eurozone, German and French PMIs fall more than expected Read More »
The German Bundesbank today (June 10) lowered its forecasts for German economic growth and expects inflation to rise significantly. Rising food and fuel prices are affecting household purchasing power and confidence. The Bundesbank expects inflation to rise by 7.1% in 2022, higher than the December forecast of 3.6% and raises the inflation rate for 2023 …
German Bundesbank Cuts GDP Forecast for 2022 by More than Half Read More »
The German Federal Statistical Office reported that German industrial orders fell by a seasonally adjusted 2.7% in April. This was an increase after a 4.2% decline in March, caused by weak demand and growing uncertainty about the future economic outlook. New orders in industry fell for the third month in a row. This contrasts with …
German Factory Orders Fell More Than Expected in April After Weak Demand Read More »
According to the Federal Statistical Office, German exports rose by 4.4% in April, which was stronger than expected, while imports increased by 3.1%. Germany’s exports to Russia fell 10% in April, following a 60% drop in March after the West imposed sanctions on Moscow over its invasion of Ukraine In April, Germany recorded a seasonally …
German Exports Up 4.4% in April – Trade with Russia Continues to Decline Read More »
GfK, a German market research firm, announced that Germany’s forecast consumer climate for June rose to -26.0 from a record low of -26.6 in May. However, consumer spending continues to be burdened by inflation and the sanctions imposed on Russia because of the Russia-Ukraine war. GfK uses data from three sub-indices from the current month …
The German GfK Consumer Climate rose in June to -26.0 Read More »
Germany’s purchasing managers’ index (PMI) for the services sector was 56.3 in May, down from 57.6 in March, according to S&P Global. The index above 50 indicates that German economic activity is continuing to expand. This was driven by a continued recovery in the services sector, resulting in German economic activity expanding further in May. …
The German Institute for Economic Research (Ifo) said its business climate index rose to 99.5 in May from 97.3 in April. Companies in Germany are increasingly satisfied with their current business situation. Despite many problems such as inflation, bottlenecks in production parts, and the Ukraine war. However, the business expectations index was 86.9, almost unchanged …
German Business Climate Index Rises Despite Several Problems Read More »
The Center for European Economic Research (ZEW) announced that Germany’s economic sentiment index rose to -34.3 in May, up from -41.0 in April and above analysts’ expectations of -42.0. The sentiment index was boosted by expectations that the German economy will not slump, as previously feared. The current condition index fell to -36.5 from -30.8 …
German Economic Sentiment Index Higher than Expected in May Read More »
As the Federal Statistical Office (Destatis) announced today, industrial production in Germany fell by 3.9% in March. Analysts had expected a decline of 1%. The effects of supply chain disruption and rising costs are making themselves felt in industry. In February, German industrial production increased by only 0.1%, showing that problems in the supply chain …